Transol may up stake in music subsidiary to 80%

Transol may up stake in music subsidiary to 80%

Technology and mining company Transol (ASX:TNC) has indicated it will likely be able to increase its stake in digital music distributor Valleyarm Digital to 80%.

Transol, which currently holds a 70% interest in Valleyarm, said Austrade had chosen the subsidiary as one of 13 businesses to represent Australia at China's Digital, Content, Applications and Services Mission to be held on July 26.

In exchange for a $100,000 advance, Transol had been granted the right to increase its stake by 10% if Valleyarm meets certain milestones.

These milestones will now be easier to achieve thanks to the rich sales opportunities afforded by their presence in the delegation, Transol said.

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Tags digital musicTransolValleyarm Digital

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